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PerchPeek raises £8m to capitalise on the ‘great relocation’

PerchPeek funding

Employee relocation platform PerchPeek has secured £8m in a Series A funding round co-led by AlbionVC and Boston’s Stage 2 Capital.

The London-headquartered firm will use the capital to grow its platform for helping companies build mobile, distributed workforces and streamline overseas relocation.

Additionally, the cash will be used to grow the app-development team to improve user experience and international expansion.

Since launching in 2020, companies such as Thoughtworks, INEOS, Impala Travel and Liberty Global have used PerchPeek to help relocate over 5,000 employees. 

The company has been aiming to capitalise on the pandemic-induced rise in remote, distributed teams. It is aiming to gain a slice of an employee relocation market estimated to be worth $3.5bn. 

Its mobile app uses artificial intelligence (AI), along with human experts, to aid the relocation process.

The latest funding follows a £2m injection last year from early-growth experts Episode 1 Ventures. 

PerchPeek CEO and co-founder Paul Bennet said: “If 2021 was the year of the Great Resignation, 2022 will be the year of the ‘great relocation’. We are seeing an enormous appetite among employees to move around for work (in fact, 79% of employees would consider moving abroad according to a recent survey), and employers are matching this appetite by offering competitive relocation packages.

“It’s why some of the world’s largest technology, financial and consulting firms are coming to us looking for a more cost-efficient and personal way to make relocation possible.”